Gold dips before uncertain rate decision

Gold prices declined today, Tuesday, by approximately 1%, approaching $4,050 an ounce. This decline is due to expectations of an upcoming decision by the Federal Reserve to raise interest rates, as market swaps indicate a 40% chance of a quarter-point hike. The metal has been under pressure since the start of the war five months ago, due to rising energy prices and inflation, despite holding steady near the key support level of $4,000 an ounce since late June. Expectations remain high for a rate hike, and the prospects for gold's recovery are diminishing amid ongoing inflation concerns and Middle East tensions.

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